German Unemployment Rises More Than Expected in September, Rate Holds Steady

• German unemployment rose by 12,000 in September, exceeding forecasts.
• Seasonally adjusted unemployment rate remained stable at 6.4%.
• Labor market’s autumn recovery described as sluggish.

Germany’s labor market showed signs of softening in September, as the number of unemployed individuals rose by 12,000 in seasonally adjusted terms. This increase significantly surpassed the market expectation of a 1,000 rise. Despite the unexpected growth in joblessness, the seasonally adjusted unemployment rate held steady at 6.4%, matching forecasts. The Federal Employment Agency noted that the typical autumn recovery in the labor market has been sluggish, indicating that economic improvements have yet to fully reach the employment sector. The total number of unemployed stood at 3.01 million.